\n
The country\u2019s economic fortunes could receive a significant fillip as the African Export-Import Bank (Afreximbank) weighs an additional US$1.706billion in transactions, according to the Ministry of Finance.<\/p>\n
This prospective financing commitment comes on top of Afreximbank\u2019s existing support for Ghana\u2019s public and private sectors, which currently stands at an impressive US$1.761billion, underscoring the multilateral trade finance institution\u2019s unwavering commitment to bolstering the country\u2019s economic development.<\/p>\n
Afreximbank\u2019s potential US$1.7 billion investment in Ghana\u2019s economy is poised to provide a much-needed boost to various sectors, ranging from infrastructure to trade facilitation, as the country navigates its path to economic recovery and sustained growth.<\/p>\n
The bank\u2019s robust support for Ghana\u2019s development agenda was recently shown by a groundbreaking project nicknamed \u2018Project Shiprite\u2019. Earlier this month, a consortium comprising Afreximbank, the African Development Bank (AfDB), Eastern and Southern African Trade and Development Bank (TDB) and Petra Pension Schemes jointly executed a facility agreement to extend senior debt funding of US$94million to PMD Assetco Limited (PMD).<\/p>\n
This financing will facilitate the construction and operation of a cutting-edge floating dock ship-repair facility in the port of Takoradi, positioning Ghana as a regional maritime hub. With the full commitment of US$13 million in capital secured, Project Shiprite will boast a 13,500-tonne lift-capacity floating drydock, 30,000 square metres of reclaimed land, a 200-metre jetty, modern workshops, offices and heavy marine equipment upon completion.<\/p>\n
Afreximbank Annual Meetings<\/strong><\/p>\nAfreximbank\u2019s steadfast backing of Ghana\u2019s economic aspirations was further underscored by the recent visit of Abena Osei-Asare, Minister of State, who will lead Ghana\u2019s delegation to the 2024 Afreximbank Annual Meetings and 3rd African-Caribbean Trade and Investment Forum (ACTIF2024) in Nassau, Bahamas.<\/p>\n
The high-profile event, themed \u2018Owning Our Destiny: Economic Prosperity on the Platform of Global Africa\u2019, brought together over a thousand delegates including African and Caribbean leaders, policymakers, business leaders and thought-leaders to chart a course for sustainable economic transformation on the continent.<\/p>\n
Ms. Osei-Asare will deliver keynote remarks at the opening ceremony and a plenary session focused on \u2018Economic Transformation for Global Africa in a Polycrisis World\u2019. She also participated in a high-level policy dialogue on \u2018An Emergent Global Africa: A Platform for Sustainable Economic Transformation\u2019.<\/p>\n
Ghana\u2019s strong ties with Afreximbank date back to the bank\u2019s inceptio, as the country is a founding member and shareholder, holding 3,645 Class \u2018A\u2019 shares \u2013 representing 2.41 percent of the bank\u2019s total shareholding.<\/p>\n
Source:\u00a0<\/strong>thebftonline.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
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